NEW YORK, United States — Tiffany & Co. is promoting Frederic Cumenal to the role of president and expanding its board to give him a newly created seat.
Tiffany's board will now have 10 directors.
The luxury jewelry company said Tuesday that Cumenal will keep his regional responsibilities and take on responsibility for its design, merchandising and marketing functions. He previously served as executive vice president.
The 54-year-old Cumenal joined Tiffany in March 2011, having previously served as president and CEO of Moet & Chandon SA at the LVMH Group.
Cumenal will continue to report directly to Chairman and CEO Michael Kowalski.
Last month Tiffany reported that its second-quarter profit rose, helped by strong sales in China. The New York company also raised its full-year earnings forecast.
Tiffany shares added 25 cents to $78.78 in morning trading.